Category Archives: Company Law

This is a direct tax proposal introduced in Budget 2017-18 as a measure to prevent abuse of Section 10(38) through sham and bogus transactions. This article talks about Section 10(38), proposed amendment and resulting consequences. Read More

“option given to the whole time directors, officers or employees of a company which gives such directors, officers or employees, the benefits or right to purchase or subscribe at a future date, the securities offered by the company at a predetermined price.”

Above definition can be analyzed to conclude that ESOP involve granting some ownership stake in the company to employees (some or all) in the form of options at reduced price than what prevails in the market. The personnel can exercise the options only after the vesting period elapses.Read More

Philanthropy in India is a phenomena as old as India itself. Corporates have responsibility to the society also in which it works. Indian corporates even before the introduction of concept of corporate social responsibility into Companies Act, 2013 were in various ways involved directly or indirectly in various charitable and philanthropic activities integrating economic and social development for the benefit of human mankind at large.

Corporate Social Responsibility is a much wider concept than philanthropy and charity. Now Section 135 of Companies Act, 2013 provides for corporate social responsibility which runs as under:

Companies Act, 2013 requires the filing of various resolutions with the registrar of Companies of the state where the registered office of the company is situated. Section 117 prescribes the filing of these resolutions. It reads as under